Sesa Sterlite Limited: Cairn India Limited - Second Quarter Financial Results for the Period Ended 30 September, 2013

  Sesa Sterlite Limited: Cairn India Limited - Second Quarter Financial
  Results for the Period Ended 30 September, 2013

Business Wire

MUMBAI, India -- October 24, 2013

Cairn India Limited, a subsidiary of Sesa Sterlite Limited, announced its
Second Quarter Financial Results for the period ended 30 September, 2013. The
earnings release is available on Cairn India’s website at:

http://www.cairnindia.com/IR/Pages/QuarterResult.aspx?UIDV=90&&Section=2

Below are the key highlights:

Financial:

  *Revenue* at INR 4,650 crore (US$ 749 million), up 14% QoQ and EBITDA at
    INR 3,619 crore (US$ 583 million), up 19% QoQ, respectively
  *Profit After Tax at INR 3,385 crore (US$ 545 million), up 8% QoQ, Cash EPS
    at INR 15.9 per share, up 18% QoQ
  *Cash flow from operations at INR 2,856 crore (US$ 460 million), up 17% QoQ
  *Gross contribution of over US$ 1 billion to the national exchequer in the
    quarter
  *Cairn India Board declared interim cash dividend of INR 6 per equity share
    of INR 10 face value

Operations:

  *Current group production at 213,299 boepd, up 0.4% QoQ, on track to meet
    year-end target of over 225,000 boepd from all producing assets
  *Rajasthan block (RJ) completes four years of oil production, crossing the
    180 mmboe from Thar’s oil fields
  *Active exploration, appraisal and development drilling programme continues

       *4 of the 6 wells drilled in 2013 exploration campaign in the
         Rajasthan block found hydrocarbons with one discovery that has opened
         up a new play type
       *A Declaration of potential commerciality for the Raageshwari S-1
         discovery in RJ has been submitted
       *Witness three fold productivity increase post successful drilling and
         fraccing of the first appraisal well in the onshore block
         (KG-ONN-2003/1) in Krishna-Godavari Basin, significantly improving
         the commerciality of the Nagayalanka discovery

  *Partner approval / alignment in Rajasthan Block

       *Approval secured for implementation of the world’s largest polymer
         Enhanced Oil Recovery project in Mangala Field
       *Technical alignment in place for the Field Development Plans of
         Barmer Hill, NI and NE

About Sesa Sterlite Limited

Sesa Sterlite Limited (“Sesa Sterlite”) is one of the world’s largest
diversified natural resource companies. Our business primarily involves
exploring, extracting and processing minerals and oil & gas. We produce oil &
gas, zinc, lead, silver, copper, iron ore, aluminium and commercial power and
have a presence across India, South Africa, Namibia, Ireland, Australia,
Liberia and Sri Lanka. Sesa Sterlite has a strong position in emerging markets
with over 80% of its revenues from India, China, East Asia, Africa and the
Middle East.

Sustainability is at the core of Sesa Sterlite’s strategy, with a strong focus
on health, safety and environment and on enhancing the lives of local
communities.

Sesa Sterlite is a subsidiary of Vedanta Resources Plc, a FTSE 100 company.
Sesa Sterlite is listed on the Bombay Stock Exchange and the National Stock
Exchange in India and has ADRs listed on the New York Stock Exchange.

Disclaimer

This press release contains “forward-looking statements” – that is, statements
related to future, not past, events. In this context, forward-looking
statements often address our expected future business and financial
performance, and often contain words such as “expects,” “anticipates,”
“intends,” “plans,” “believes,” “seeks,” “should” or “will.” Forward–looking
statements by their nature address matters that are, to different degrees,
uncertain. For us, uncertainties arise from the behaviour of financial and
metals markets including the London Metal Exchange, fluctuations in interest
and or exchange rates and metal prices; from future integration of acquired
businesses; and from numerous other matters of national, regional and global
scale, including those of a political, economic, business, competitive or
regulatory nature. These uncertainties may cause our actual future results to
be materially different that those expressed in our forward-looking
statements. We do not undertake to update our forward-looking statements.

Contact:

Sesa Sterlite Limited
Ashwin Bajaj, +91 22 6646 1531 (Investors)
Senior Vice President – Investor Relations
sesasterlite.ir@vedanta.co.in